Quantitative and Qualitative Disclosures about Market Risk
−Removed: Market risk refers to the potential losses arising from changes in interest rates, foreign currency fluctuations and exchange rates, equity prices, and commodity prices, including the correlation among these factors and their volatility.
+Added: Market risk refers to the potential losses arising from changes in interest rates, foreign currency exchange rates, equity prices, and commodity prices, including the correlation among these factors and their volatility.
Our principal market risks are our exposure to changes in interest rates and foreign currency exchange rates.
9 unchanged sentences
In order to mitigate the effects of foreign currency exchange rate risks in areas outside of the United States (primarily in our Offshore/Manufactured Products segment), we generally pay a portion of our expenses in local currencies and a substantial portion of our contracts provide for collections from customers in U.S.
−Removed: During the year ended December 31, 2021, our reported foreign currency exchange losses were $0.2 million and are included in "Other operating expense, net" in the consolidated statements of operations.
−Removed: Accumulated other comprehensive loss, reported as a component of stockholders' equity, is primarily relates to fluctuations in currency exchange rates against the U.S.
+Added: During 2022, our reported foreign currency exchange losses were $0.2 million and are included in "Other operating income, net" in the consolidated statements of operations.
+Added: Accumulated other comprehensive loss, reported as a component of stockholders' equity, primarily relates to fluctuations in currency exchange rates against the U.S.
dollar as used to translate certain of the international operations of our operating segments.
−Removed: Our accumulated other comprehensive loss decreased $5.4 million from $71.4 million as of December 31, 2020 to $66.0 million as of December 31, 2021, with the reclassification of $9.3 million in historical currency translation adjustments to net loss upon the liquidation of an international operation partially offset by the impact of changes in currency exchange rates during 2021.
−Removed: During 2021, the exchange rate for the British pound and the Brazilian real weakened by 1% and 7%, respectively, compared to the U.S.
−Removed: During 2020, the exchange rate for the British pound strengthened by 3% compared to the U.S.
−Removed: dollar while the Brazilian real weakened by 23% compared to the U.S.
+Added: Our accumulated other comprehensive loss increased $12.9 million from $66.0 million as of December 31, 2021 to $78.9 million as of December 31, 2022, due to changes in currency exchange rates.
+Added: During the year ended December 31, 2022, the exchange rate for the British pound weakened by 11% compared to the U.S.
+Added: dollar while the Brazilian real strengthened by 6% compared to the U.S.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.